An Executive flat in Yishun has joined the million-dollar club when it was sold for S$1.038 million in February 2022. This marks a first in the estate, as well as the first time in four years for a flat in a non-mature estate to be sold for at least a million dollars.
The first resale flat in a non-mature estate that was sold for S$1 million was an executive maisonette in Hougang back in January 2018.
According to the 99.co and SRX report on the HDB resale market in February, the Yishun flat spans 2,013 sq ft, translating to a price psf of S$516.
Located at 652 Yishun Avenue 4, the flat is just across the street from Yishun Park, Yishun Pond and Khoo Teck Puat Hospital.
29 flats sold for at least a million dollars last month
In total, 29 flats were sold for at least a million dollars in February 2022. This is slightly higher than in January when 27 units were sold.
The estate with the highest number of million-dollar flats sold was Central Area, with seven of such flats sold last month. Pinnacle @ Duxton, which is located in the estate, has generally been clocking the highest number of million-dollar flats sold, with the estate recording 10 of such transactions back in December 2021.
This is followed by Queenstown with four of such flats sold last month, with Toa Payoh, Kallang/Whampoa, Clementi and Bishan each recording three of such sales.
Still, at 1.5%, these flats form a small minority of the total number of flats sold last month.
22% decrease in sales volume last month
1,904 flats were sold in February 2022, which is a 22% decrease from January’s transaction volume. This may be due to the Chinese New Year period when sales would traditionally be lower, as well as the increasing resale flat prices.
Month-on-month, prices have increased by 0.6%, marking the 20th straight month of rising flat prices.
Would you pay a S$1M for a flat in Yishun? Let us know in the comments section below or on our Facebook post.
If you found this article helpful, 99.co recommends Missed out on the BTO? Look out for HDB’s Open Booking of Flats next week and What you need to know to get the most out of CPF’s Housing Grants.
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